[quote name='corrosivefrost']How does this work? I want in! I'm sure Chika does too.[/QUOTE]
The first stimulous was a lump sum tax credit of $600 or I think $1000 for families that we got a check in the mail last year.
The new Stimulous is essentialy a one year tax credit in your paycheck so instead of getting $400-$500 in a check in the mail you'll get around $20 in your paycheck every two weeks.
The thinking is, if you get a $600 lump sum, you're not necessarily going to use it in a way that stimulates the economy. For example, you could use it to pay down credit card debt or just put it in savings (like i did) or spend the money outside the counrty on a vacation. Which is essentialy what happened in the last stimulous. Some people used it for stimulative effects like buying a new tv. But enough either sat on the money or used it in other ways that the stimulous was ineffective.
So by giving everyone an extra 500-$600 dollars, but breaking it in your weekly paycheck, you're supposed to be more likely to spend it on frivilous things. With that extra $20 you may go out for lunch, buy a dvd, get a cup of coffee, etc. The idea is, if everyone does this in aggregate over the course of a year, then the economy will be stimulated.
My bi-monthly paycheck mysteriously increased around $20 this month, which I can only assume is due to the passed stimulous package taking effect.
While it's nice, to be honest, from a stimulative effect it'll probably be as effective as the last stimulous, which emasn practically none at all. But at elast for the enxt year you'll be around $40 richer every month. The amount depends on how much you make.